Running into problems doing due diligence , please advise!
Hi BP community,
I am currently doing my due diligence in acquiring a 4-plex, and running into issues:
How do I verify rent if tenants are paying cash?
How do I verify lease agreement if the seller lost the lease agreements?
The bank is not willing to lend money until they see a lease agreement between the seller and tenants.
Would it be a problem that if there were no exiting lease agreements prior to me acquiring the property? Such as unable to evict a tenant?
Please advise.